Customer demand for U-Haul products and services is greater than ever. The Company is experiencing another year of record rental transactions.
If business so great how come they can't make any money?
These are the Net Income numbers for the past 5 years in Mar quarter.
Net income (loss) 2.72 12.97 65.49 62.51 34.98
On the other hand, the bulk of the cash from from operations comes from this category
Deprec & amort 169.44 144.18 135.48 114.10 113.82
FCF/share -6.91 -10.84 -8.21 -6.33 -10.61
Cashflow from investing, sucks
Cashflow-investing -213.35 -126.74 -181.68 -204.78 -140.79
And a few other things from the last 10Q available for quarter ending in June
All of the following in thousands.
Total Contractual Obligations $ 1,990,534
Less than 1 year 448,404
1-3 years 869,836
4-5 years 168,737
after 5 years 503,557
So they had $448mm to pay in the next year before the restructuring
Bloomberg lists 3.2bln in debt, 3.7 bln in assets, but come on, in this market, with auto's being practically given away, their fleet would be pennies on the dollar, and soon their real estate will be the same. |
